MOVABLE PROPERTY
Government employee booked in DA case in J-K's Doda
The Jammu and Kashmir Anti-Corruption Bureau has filed a case against Shahilal Showkat Ali, a class four employee, for allegedly possessing assets disproportionate to his known income sources. Ali, a night guard, is accused of amassing properties worth crores, including residences, land plots, and luxury vehicles. Searches at his residences uncovered financial documents, foreign currency, and official rubber stamps.
Disproportionate assets case: SC stays order for CBI probe against Kerala CM top advisor
The Supreme Court has stayed the Kerala High Court's order for a CBI probe against K M Abraham, Chief Principal Secretary to Kerala's CM, in a disproportionate assets case. Justices Dipankar Datta and Manmohan issued a notice following Abraham's appeal, arguing that an FIR under the Prevention of Corruption Act requires prior sanction.
MobiKwik incorporates wholly owned NBFC subsidiary
One MobiKwik Systems has established Mobikwik Financial Services Pvt Ltd to provide non-bank financial services, including leasing and financing. This move follows its partnership with Poonawalla Fincorp for instant personal loans and the incorporation of Mobikwik Securities Broking Pvt Ltd. These expansions bring MobiKwik closer to competing with Paytm parent One97 Communications.
Mehul Choksi to seek bail next week in Belgium, may cite bad health
Mehul Choksi, wanted in the PNB fraud case, is set to challenge his arrest in Belgium, citing violation of natural justice and seeking bail. His legal team will argue against flight risk due to ill-health and community ties, while India opposes his release.
ED seizes Rs 7.33 crore in assets in PMLA case against ex-Kamrup Deputy Commissioner
The Enforcement Directorate (ED) in Guwahati has seized assets worth Rs. 7.33 Crore belonging to Sukanya Bora, former Additional Deputy Commissioner of Kamrup (M), Assam, under the PMLA act. This action follows a disproportionate assets case filed against her.
National Herald case: AJL, YI properties proceeds of crime, involved in money laundering, says adjudicating authority
The adjudicating authority has affirmed the ED's attachment of ?661 crore in assets linked to the National Herald case, declaring them proceeds of money laundering. The ED has also filed a charge sheet against Sonia and Rahul Gandhi, accusing them of controlling Young Indian through a conspiracy to acquire AJL's assets.
ED seeks Mehul Choksi asset details from 10 nations amid extradition efforts
The Enforcement Directorate is pursuing the confiscation of Mehul Choksi's foreign assets across 10 countries following his arrest in Belgium on India's request. Letters rogatory have been dispatched to nations including Hong Kong, the US, and the UAE, seeking details on Choksi's companies and assets.
$2 bn scam in 2018 to arrest in 2025: A timeline of India's biggest banking scam by Mehul Choksi & Nirav Modi
Fugitive diamantaire Mehul Choksi, implicated in the massive PNB fraud, was apprehended in Belgium after evading authorities since 2018. His arrest marks a significant development in the decade-long financial scandal. Choksi's extradition is now being pursued, while efforts continue to recover assets across multiple countries, following years of legal battles and diplomatic maneuvers by Indian authorities.
Ratan Tata’s will has a no-contest clause that could cost challenger the entire inheritance
Ratan Tata has left the majority of his ?3,800 crore wealth to charitable foundations RTEF and RTET. His will includes a no-contest clause and restricts the sale of his Tata Sons stake. Key beneficiaries include his half-sisters and close former Tata Group employee, with selected assets distributed among friends and executors.
Amended Waqf Bill to be taken up for passage, consideration in Lok Sabha on April 2
The Waqf (Amendment) Bill, aimed at improving Waqf property management through digitisation, better audits, transparency, and legal reforms, is set for discussion in Lok Sabha on April 2. The bill addresses longstanding issues like mismanagement and corruption in Waqf properties. Major NDA allies are likely to back the bill as their suggestions have been incorporated.
Under Modi govt, terrorists will either go to 'jail or jahannum': Minister Nityanand Rai in RS
There has been a 71% reduction in terror incidents in the country under the Modi government, said Minister of State for Home Nityanand Rai in Rajya Sabha. The Modi government's 'zero tolerance' policy towards terrorism has resulted in no terror incidents in the hinterland and significant achievements by the NIA, he added.
Russian court orders seizure of U.S.-owned Glavprodukt assets
A Russian court has ordered the seizure of assets and property connected to canned food maker Glavprodukt and its U.S.-based owner Leonid Smirnov. This follows President Putin's decree placing these assets under the temporary management of the Russian state. Smirnov claims to have lost control of his business in Russia while Universal Beverage Company denies any wrongdoing.
Prudent's Shah gets Sebi nod to gift shares to staff
Sanjay Shah wanted to distribute among 650 employees about ?33 crore worth of shares of Prudent Corporate Advisory Services, India's fifth-largest mutual fund distributor. The intended recipients included staff members engaged at his home.
Gift deed and relinquishment deed in real estate: What’s the difference?
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 41st part of this series, Riju Mehta explains the difference between the two legal instruments that can help pass on assets.
ED attaches Rs 65 cr properties linked to ex-GM of Sikkim bank in money laundering case
The Directorate of Enforcement (ED) has attached properties worth Rs 65.46 crore linked to ex-general manager Dorjee Tshering Lepcha of the State Bank of Sikkim in a money laundering case. Assets include residential properties and land in Sikkim, along with bank accounts holding Rs 53.41 crore. Lepcha allegedly created a fake government account to siphon funds.
ED probing foreign link to ?3,558-crore 'cloud storage' scam
The Enforcement Directorate has uncovered proceeds of crime amounting to ?3,558 crore in a multi-thousand crore fraud by Vuenow Marketing Services Ltd. Sukhvinder Singh Kharour and his wife Dimple were arrested while attempting to leave India, and the agency seeks to track the money trail and uncover potential foreign links.
ED secures court order to restore over Rs 3,300 crore assets to ponzi victims
The Enforcement Directorate has completed the restitution of assets worth Rs 3,339 crore to victims of the Agri Gold ponzi scheme. The assets include over 2,300 parcels of land and properties, which have been attached and their current market value is estimated to exceed Rs 6,000 crore.
What is Family Settlement Agreement, how does it prevent conflicts among family members in distribution of assets?
Family Settlement Agreement: Apart from Wills, Trusts and Gift Deeds, there is another way to transfer property and assets. Family Settlement Agreement can be used as a way to divide the movable and immovable assets among the family members. Read on to learn what it is and how it prevents conflicts among family members in the distribution of assets.
Be it alimony or property, women should not let go of these money rights
If the property is in husband’s name, but wife has paid for it: The husband can claim it unless the wife can prove her contribution to the purchase of the property, in which case, she can stake a claim in the property.
Load More
